He points to companies such as Zynga, Facebook, and Twitter as possible new 'Netscapes' that could trigger more IPOs.

Foremski's Take: Facebook and Twitter won't be potential 'Netscapes' because there aren't too many like them to feed the IPO pipeline. But Zynga, which specializes in social gaming, or Yelp, might because they represent a whole raft of similar companies.

While 2010 will likely see an increase in IPOs I don't see it being a watershed year because of several factors:

- We still haven't had the second market correction that we need. After the Great Crash, it was the second correction that cleared out the deadwood and that eventually led the long climb back to stock market gains.

- Zynga and many other online companies have revenues that are based on a lot of scammy ads that are not long lasting revenue streams. The ad revenues will be shut down, or replaced by other scammy ad revenues in a constant but diminishing circle of revenues. This is not a good foundation for any business hence the smart investors (VCs) are looking to offload to the least informed investors -- the public. This will poison the IPO pipeline and it will take time to recover.